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Rush Enterprises recently announced that it has purchased certain assets of Summit Truck Group. The commercial vehicle dealership said the acquisition marks the largest in its history.
The deal, announced Dec. 14, expands its network by 16 International brand commercial vehicle dealerships, putting its total locations at 125. The purchase price was approximately $205 million.
“This acquisition will strengthen our dealership network in several of the most important trucking markets in the United States,” Chairman and President W.M. “Rusty” Rush said. “I am especially thankful to the employees of Summit Truck Group and Rush Enterprises who have worked tirelessly over the last few months to complete this transaction.”
The newly acquired dealerships include five locations in Arkansas, three in Kansas, seven in Missouri and one in Tennessee. The transaction also includes Idealease commercial vehicle leasing operations at eight locations, a used truck sales facility in Kansas City, Mo., and a collision center in Memphis, Tenn.
“We could not have completed this acquisition without a lot of work from the great teams at both companies,” Rush said. “I have tremendous respect for the excellent customer service reputation that the employees of Summit Truck Group have built over the years, and we are excited to welcome many of them into the Rush Enterprises family.”
IC Bus, Isuzu and Dennis Eagle franchises are included at certain dealership locations. Rush also acquired a dealership facility in Wichita Falls, Texas, that will operate as a full-service Peterbilt commercial vehicle dealership. — Transport Topics
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